Why China is always bad news for bitcoin?

[onnz423]

China isn't ALWAYS bad news for bitcoin, much of bitcoin's early explosion in growth was due to the miner boom in China. Currently, China holds the lead for the most hashing power, because of this, they always hold a lot of sway in the value of bitcoin, and the level of fees required for transactions to be confirmed quickly. Recently, news about China's changing crypto regulations caused a small crash in the BTC price, due to misinformation, as nobody mentioned a ban, and yet panic still ensues.

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[Edraket31]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think it is a type of competition system , like we can see in another field where any type of the rumours they spread to amke Thier own profit and also any type of stupid thing they can , similarly here the same thing happening in the cryptocurrency. As most of the miners as well as most of the bitcoiners crowd is from the China , so here we can expect that there bitcoiners trying to bring new new negative things to make the bitcoin and another altcoins to get dump and after that make buy and make profit with small up , well here we should not se towards the negative news because negative news coming and going are now a usual thing for the bitcoin , so don't care much about them .

For what I am seeing now is that China wanted to have their own crypto that will be out of the market all over the world, they are just being so greed that they don't want bitcoin, not because it is decentralize and it is hard for them to imposed tax on it but because it is not their own coin and they did not create it.

[MGmahesh]

I think it's a ploy to make a big plan in mastering the global economy, in every aspect china always wants to master, at least they do not want to rely on the resolve of others, so they will make counter crypto over bitcoin but often their product is always full of manipulation to fulfill his ambitions in world domination.

[eloymjb]

 we all known that Chinese are known a businessman. all business man do anything to make money. Chinese men do to say negative about bitcoin to make a hard dump on it to buy on dip of the bitcoin. that's why they do anything to have a profit. in the first place Chinese is want our money to become rich.

[cybersofts]

China was some kind of motor for Bitcoin during the last years.
Unfortunatelly many people in China used it to bring money out of the country, and the government there did not like that.
So chinese government made it harder to work with bitcoin and put up some regulations.
And those regulations the motor, that causes the bad news.

Then you have to keep in mind that in certain time intervalls intentionally rumors were created to bring the price down in order to get cheap coins.
Those rumors work best if they are about troubles in the most important bitcoin country.

I think the Chinese government really like the idea of centralized currency where the government controls every penny. They hate bitcoin because it is the currency which is truly decentralized, they can't control it while their people are using it. Bitcoin is the currency of the people by the people. it gives people freedom by putting them in control of their money.

[romec1701]

I think eventually all countries will follow what China and South Korea are doing. Namely forcing exchanges to have proper KYC lke any financial institution. This will not be the death of crypto but its birth. It will become more mainstream as it willl be seen in a more legitamate light. And this is a good thing for everyone.

I hope it happens sooner rather than later

[clubchain]

Because it is a populous country in the world and is still in the developing countries stage, the decentralized currency such as bitcoin can easily make the country's economy run out of control. However, there are still many investors in China, so countries often issue corresponding policies.

[JeBro]

Bitcoin poses a potential threat to the PRC economy. There, many people keep money in the BTC,
which takes these funds out of the control of the Chinese government.
Therefore, the official authorities are trying to minimize the bitcoin influence.

[troglobait]

Over time, more and more countries will struggle with bitcoin. It creates a threat to the economy. I hope to overcome it they can not

[azker]

Because virtual currency has no borders, cross-border payments through virtual currency can avoid foreign exchange controls, and there is a greater need to guard against such anonymous transactions for countries and economies where capital projects are not fully open.so china is always bad news for bitcoin

That argument is illogical af like china also has made moves that are in the favour of BTC and crypto. They haven’t gone all out to ban it

[Aasia567]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think it is a type of competition system , like we can see in another field where any type of the rumours they spread to amke Thier own profit and also any type of stupid thing they can , similarly here the same thing happening in the cryptocurrency. As most of the miners as well as most of the bitcoiners crowd is from the China , so here we can expect that there bitcoiners trying to bring new new negative things to make the bitcoin and another altcoins to get dump and after that make buy and make profit with small up , well here we should not se towards the negative news because negative news coming and going are now a usual thing for the bitcoin , so don't care much about them .

For what I am seeing now is that China wanted to have their own crypto that will be out of the market all over the world, they are just being so greed that they don't want bitcoin, not because it is decentralize and it is hard for them to imposed tax on it but because it is not their own coin and they did not create it.

Yes, what I see is that the ban on bitcoin in China is largely due to the imperfect system of taxation.

[clarkgeneral86]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think it is a type of competition system , like we can see in another field where any type of the rumours they spread to amke Thier own profit and also any type of stupid thing they can , similarly here the same thing happening in the cryptocurrency. As most of the miners as well as most of the bitcoiners crowd is from the China , so here we can expect that there bitcoiners trying to bring new new negative things to make the bitcoin and another altcoins to get dump and after that make buy and make profit with small up , well here we should not se towards the negative news because negative news coming and going are now a usual thing for the bitcoin , so don't care much about them .

For what I am seeing now is that China wanted to have their own crypto that will be out of the market all over the world, they are just being so greed that they don't want bitcoin, not because it is decentralize and it is hard for them to imposed tax on it but because it is not their own coin and they did not create it.

Yes, what I see is that the ban on bitcoin in China is largely due to the imperfect system of taxation.

Tax administration issues are only part of the ban on bitcoin. In China, everything must be controlled and when a factor affects it, it will be banned.

[tramadols]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I don't really know the development of china for crypto. now that china has passed, that's what I know. maybe this time for south korea which is a problem, although the news sounds starting to improve. I think china has no more power to destroy bitcoin.

[gabmen]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I don't really know the development of china for crypto. now that china has passed, that's what I know. maybe this time for south korea which is a problem, although the news sounds starting to improve. I think china has no more power to destroy bitcoin.

China's always been there when it comes to initiating fud for btc. Probably to affect the market and take advantage
 Korea already allowed crpyto trading again though with regulations. And india not allowing crypto is bad news as well and we can see the effects of it instantly but even through all these, i'm pretty sure bitcoin will regain momentum

[hadveach]

I think china just wants to make a new sensation, want to be famous, want to dominate the crypto trading market, and also want to adopt bitcoin. but they did the wrong thing. and only destroys the value and crypto market. making weak and falling.

[h55]

because they Rampant yoan and be the king of the world market. that is simply please check the gold saving in china

[bloodyvio]

china always try and find a way to regulate bitcoin
such as banning ICO, closing some exchanges or regulating some exchanges
and every news from china always impacts bitcoin prices because a lot of bitcoin investors and the most hashing power from bitcoin mining comes from there (china)

[Stigmooo]

Simply because early 2017 they launch their new currency which is yoan or yuan.. Thats is gold backed currency.. If bitcoin which is in crypto currency is much higher than gold which is the reality today.. Their currency have no chance to dominate the world market.. They save gold by the way.. So good luck for the bitcoiners out there in china..

[Hudadahuda2018]

I got the information from the online media, the miners in china mamang so much that the Chinese government forbids mining because mining uses electricity so the Chinese government prohibits mining bitcoin. mining in china every month can get bitcoin 3-6

Yes it is also your opinion.
Regarding information about the existence of bitcoin in china it is very fast even bitcoin users more in china than in other country so chinese people can just bully bitcoin users so can sell it so that when they sell it chinese people can buy cheaply even chinese people can manipulate bitcoin users if bitcoin will soon be extinct and declared will soon die so that bitcoin users can stop or just can sell the coins for free.

[lucas.zimmer]

China isn't ALWAYS bad news for bitcoin, much of bitcoin's early explosion in growth was due to the miner boom in China. Currently, China holds the lead for the most hashing power, because of this, they always hold a lot of sway in the value of bitcoin, and the level of fees required for transactions to be confirmed quickly. Recently, news about China's changing crypto regulations caused a small crash in the BTC price, due to misinformation, as nobody mentioned a ban, and yet panic still ensues.

Agreed. China is not always bad news for crypto world. As far as I observe they are just trying to manipulate the market. they are releasing some news to support the market to increase the prices and some news to decrease prices. Clear manipulation.